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Amgen To Buy Mustafa Nevzat For $700 Million

Biotechnology firm Amgen (AMGN) will buy a 95.6% stake in Mustafa Nevzat Pharmaceuticals for $700 million, in a move to expand its presence in Turkey and the surrounding region. The all-cash transaction has been approved by both the boards, the two companies said in a joint statement Wednesday. MN, which supplies pharmaceuticals to the hospital sector and is a major supplier of injectable medicines in Turkey, had revenue of approximately $200 million in 2011, the statement said. Amgen's focus on Turkey and the surrounding region, which are large, fast-growing, priority markets for Amgen, is a part of its international expansion strategy. Amgen established an affiliate in Turkey in 2010 and currently markets two products, with plans to develop its pipeline of clinical candidates for Turkey and other markets around the world. Order free Annual Report for Amgen, Inc. Visit http://djnewswires.ar.wilink.com/?link=AMGN or call 1-888-301-0513

Stock News for Amgen Inc. (AMGN)
DateTimeHeadline
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10/21/201417:30:26Third Point Wants Amgen to Explore Separation
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07/30/201409:51:21MARKET SNAPSHOT: U.S. Stocks Open Higher After Strong GDP Report
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07/25/201406:03:01Bayer and Onyx Say Phase III Trial of Nexavar Breast Cancer Treatment...
07/02/201417:06:33Bind Therapeutics, Amgen End Collaboration on Targeted Cancer...
06/20/201421:35:07Atara Biotherapeutics, Backed by Carlos Slim, Files for IPO

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